CHOOSING A GOOD COMMERCIAL OFFICE SPACE FOR YOUR START-UP

Selecting an office space for your business can be a mind wrecking job. There are so many things that you have to consider before finalising your option. A small glitch here and there can result in you losing a goof amount of money. That can be a major hit for your business. Reason being, as a young start-up you cannot afford to lose a major chunk of your investment in the things that are not directly related to your business. you need every penny to keep your business going. Thus, deciding for an office space is one important decision. You need to look into a lot of parameters before finalising your choice. These parameters could be as follows:

1.    A proper decision

You cannot simply haste in renting or buying an office space. You need to invest proper time in finding details and other information about various places in order to take a final decision. So, don’t just rush into something so important.

2.    Location

Location plays a primary role in business development. You don’t want to be too close or too far away from your competitors. You need to know what the market demands and that cannot be done in isolation. Hence, your working place needs to be in a location that is accessible to everyone. Be it you yourself, your investors, or your customers, your location should be almost central. In such a case coworking spaces are a perfect hit. It is quite a fancy opportunity if you are sharing office in Delhi. They are located at business centres of the city, like CP, and you are working alongside a lot of other businesses

3.    Décor

Your office space must shout out to the world about your brand. The décor plays a very important role in that. You need to customise your office space as per the requirements of your business. Only then will you be able to convince your customers and investors about how serious your brand is. Thus, to have an appealing and convincing décor is necessary.

4.    Facilities

What is an office without the necessary equipment and facilities? Your office needs to have certain basic things like laptops or PCs, Wi-Fi, a landline number exclusive to the office, meeting spaces, café, etc. This is how you can manage maximum efficiency in your working space. For instance, you cannot send your employees out every time to get a printout or photocopy. Installing a machine in the office will be beneficial.

5.    A parking area.

You should make sure that your office space has ample parking space around. If not your personal parking space, then it should be close to a community parking space at least. Every one now drives a car and it is necessary to have a proper area to park it. Seeing people’s attitude towards such things and, you might even end up losing customers if you don’t have a proper parking space.

6.    Tech

You need to have proper technology in your office to make sure that there is maximum efficiency. You cannot afford a Wi-Fi that goes down very easily. You cannot have subclass computers. To keep the business running, you need some quality technology. A high-speed Wi-Fi, good quality computers, additional machines like a photocopier, printer, fax, etc. telephone lines, etc. are some must-haves to make your office space Hi-Tech.

7.    A conference room

Small conference space is a good option. You often need to have meetings involving the entire team. Or you might need to give some pep talk for your team to get working properly. Thus, a conference room will help you do all the group activities.

8.    Employee safety

This is another important thing to look at. You being the employer, is the guardian of all your employees. Their safety should be one of your important concerns. Installing first aid kits, fire extinguishers, etc. might prove to be helpful. You will always be prepared for some minor office place mishap always.

9.    A good deal

You should have a good deal with the landlord. You should see to the fact that whatever you are paying is worth what you are getting.

10. Proper agreements.

This is another essential part. You should be careful about what you are signing and should know what can go against you. So, be careful while reading those agreement papers.

An office place is like a place of worship. As well said, work is worship, the office place has to be the place of worship. Everyone, running a business, has a dream of owning their personal office space that, by the very look of it, talks about their brand. Owning an office space is a sign of independence as well as success. But, when you are young business, and finances are not that great, you cannot afford to let a big chunk of your funding go into paying rents for an office space. If the finances aren’t managed perfectly in the very beginning of the start-up, then there are chances that the business might go in great debts and you would not be able to fetch profits for a very long time. Thus one needs to take a smart decision, and hence the option of coworking spaces.

As a young entrepreneur, today what business owners look for is flexibility, state of the art technology, cool working area, and rent control. They want a maximum portion of their investments to be focused on developing their business and not maintaining an office space. All these are qualities of a coworking area. A coworking space welcomes a lot of start-up businesses and freelancers. They are full of people, driven by motivation and inspiration to take their business to amazing heights. This makes the entire coworking area positively competitive and full of energy. You will always stay motivated and inspired by seeing the other people work around. It’s a powerhouse of new ideas and innovations. Not just that you will be sitting with some of the top businesses that attract investors. So, you will be in constant vicinity of prospective investors or buyers. All these things won’t happen if you are sitting in a personal, closed space.

There are certain questions that might come to your mind when choosing the right coworking space as your office space. For instance,

Is it ok to work in a coworking space?

Absolutely. Coworking spaces provide a healthy environment to work. You will be in proximity to a lot of other businesses, a few might be your competitions too. But that gives you good opportunities to grow. You will be well aware of what the others are doing, their mistakes, what you should avoid, etc. You will also be around a lot of investors and company VPs. These people are always on a lookout to invest in young start-ups which are innovative and can prove themselves in the market. So, you might not even have to wait for calls and appointments to be fixed. You can directly get in touch.

What about the technical supplies?

Coworking spaces are well equipped with state-of-the-art technical supplies. Be it Wi-Fi, computers, or other accessories. Certain places will also provide you with stationery items.

How does the renting system work?

The rent system is the best feature about the entire coworking system. As mentioned earlier, not every start-up is able to secure filthy rich investors and get a funding worth billions of dollars. You might not even be able to break penny till a few months of your product launch. Thus, you need to save everything that you have, and spend very wisely, and choosing the coworking area is one such wise decision. Your rent cycle is a monthly cycle. There is no elaborate contract about when and how you should move in or out. You just pay the rent for the required amount of space you will be needing for your team and simply start working. These coworking spaces cost some where between 6000 to 9000 per month per member. This rent will include everything, the office supplies, basic essentials like water, electricity, wi-fi, and the other related things that we need in an office. Even if you don’t have enough money to afford the working space for your team the next month, you can simply walk out. There are options of private cabin also available at a slightly higher cost. Some coworking spaces allow you to book a seat on a daily basis also. So, if your start up requires a lot of travelling, you can just pay for the number of days that you are using it for.

Is the location of these coworking spaces good enough?

Like a personal office space, you need the coworking space to also be in communal and easily accessible areas. Luckily, these coworking spaces are usually constructed in the most active business areas that are accessible to everyone. So, you don’t have to worry about this at all. These areas include CP, Gurgaon, Noida, Pitam Pura, etc. if you are looking for one of the best coworking spaces, then you must consider One Co,Work. They have been really successful in making a healthy reputation amongst their customers since they became active in the market. They have amazing rental plans and beautiful coworking spaces pan India. So, if you are looking for a coworking space, you must visit their website once, for more details.

These are a few basic questions that do come in the minds of people every time they make such decisions. So, think wisely and take a decision that is best for your company. Happy working!

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Created on Aug 30th 2019 01:33. Viewed 399 times.

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